International Corn Price at Rp 3,431.1 per Kg (Thursday, May 11, 2023)

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Agus Dwi Darmawan 11/05/2023 14:36 WIB

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International Corn Price at Rp 3,431.1 per Kg (Thursday, May 11, 2023)

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Corn Prices Over the Past Three Months

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International corn prices for the next two-month contract are observed to be rising. Daily trading saw corn priced at USD 591 per bushel. Converted to Indonesian Rupiah, this is equivalent to Rp 3,431.1 per kg. This price is calculated using the exchange rate recorded by Bank Indonesia, which is Rp 14,750 per dollar.

Katadata Insight Center (KIC) calculations, based on historical data from Yahoo Finance, show that the average corn price over the last week was USD 588.36 per bushel. This average price is lower than the previous week's price of USD 597.32 per bushel.

Meanwhile, for the monthly period, corn prices have shown a downward trend over the last 30 days. The average corn price for May was USD 587.67 per bushel, down 6.53 percent compared to the previous month's price of USD 628.72 per bushel. The highest average monthly corn price in the last 12 months was recorded in June 2022.

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."